And spent is technically a cap gains event too
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Sure, of course.
I actually had a massive headache for last year’s taxes cause I accepted an Airdrop of a bunch of VVV (the Venice AI token). It was like $15,000 dollars just for using their app. So I wasn’t going to turn it down, but doing all the tax shit with it sucked. Obviously I immediately sold it, but I had to like have some dude that’s an eth guy first send me that shitcoin to move it to coinbase so I could sell it. I learned some things in the process but what a headache. Plus free sandwich money.
Crypto/tech doesn't fit our old laws so well and creates so much friction when we just want to use money.
I see it now as public on chain zaps are for crossing the strait of hormuz not shitposts from npubs
Different utility, different implementations